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Why Emerging Markets Have Become an Unlikely Haven From Global Risk

  • Doom-and-gloom talk contradicts bond, stock, currency gains
  • Fed, commodities and Trump seen as obstacles to EM rally
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JPMorgan's Titherington Says EM in a Pretty Good Place

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If the U.S. Treasury market’s 2013 Taper Tantrum revealed the fragility of emerging markets, political turmoil this year is highlighting their resilience.

UBS AG, Goldman Sachs Group Inc. and a host of other naysayers have cautioned against excessive optimism as investors have piled into stocks, bonds and currencies in developing nations. They say traders are ignoring the risks of political turmoil, trade protectionism and subdued prices for the commodity exports the countries depend on.